Potential Economic Impacts of Agricultural Growth in Africa: Evidence from Guinea-Bissau

Potential Economic Impacts of Agricultural Growth in Africa: Evidence from Guinea-Bissau

Abstract This paper examines the potential effects of agricultural investment on economic outcomes in Guinea-Bissau (2014–2030). Through a dynamic computable general equilibrium (CGE) model, we found that improved agricultural performance will positively impact economic growth, sector output, and jo...

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Bibliographic Details
Published in:Journal of agricultural and applied economics 2023-08, Vol.55 (3), p.492-515
Main Authors: Cateia, Júlio Vicente, Bittencourt, Maurício Vaz Lobo, Carvalho, Terciane Sabadini, Savard, Luc
Format: Article
Language:eng
Subjects:
Agricultural economics
Agriculture
Consumer Price Index
Developing countries
Economic development
Economic growth
Economic impact
Food industry
Food security
Households
Impact analysis
Income inequality
Industrial development
LDCs
Poverty
Socioeconomics
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Summary:Abstract This paper examines the potential effects of agricultural investment on economic outcomes in Guinea-Bissau (2014–2030). Through a dynamic computable general equilibrium (CGE) model, we found that improved agricultural performance will positively impact economic growth, sector output, and job opportunities for rural and urban workers. The decline in food prices will propagate indirect impacts on urban household welfare, while rural households will benefit from direct and indirect effects through the decline in the consumer price index. Poverty alleviation suggests agriculture’s crucial role in supporting ongoing industrialization and food security in Africa with attenuated income inequality.
ISSN:1074-0708
2056-7405